Well, sort of almost kinda well not really even close to right, but par for the course with you.Merrill wrote: It began with a fellow sueing the FRB because they obviously have no intention of redeeming their stock!
The idiot in question is claiming that the FRB is "refuse(ing) to redeem Federal Reserve Notes "on demand". The rest is your usual misinterpretation of what someone else said or did. The law he is trying to use applies ONLY to banks within the FRB system, and does not, and never did apply to individuals, something else you are confused about. The law in question only had any value when FRN's weren't considered legal tender early in their existence, and that function expired with the legal tender act. And, since the law in question actually only applied to a specific in house issue of Federal Reserve Notes, it had no application outside of the internal FRB system. The third thing you are equally confused about is the difference factually and legally between a bank note, and a stock certificate. FRN's are not, in any way, shape, or form stock certificates, your delusions not withstanding.